30-year mortgage interest rates hit another historic low

May 3, 2012|By Donna Gehrke-White, Sun Sentinel

The average 30-year, fixed-rate mortgage interest rates plunged to a new historic low this week, Freddie Mac reported Thursday.

The 30-year fixed rate dropped to 3.84 percent, down from last week's 3.88 percent. It remained below 4 percent for a sixth week in a row, accord to Freddie Mac. Last year at this time, the rate was almost a point higher at 4.71 percent.

Interest rates on 15-year, fixed-rate mortgages also dropped, from last week's 3.12 percent to an average of 3.07 percent this week, Freddie Mac said. Last year at this time the average rate had been at 3.89 percent.